Highlights

Also on KPMG.com

Tasmania is about to broaden its current ‘land-rich’ model used for charging duty on direct and indirect transfers of land, to a landholder model, bringing itself in line with the other States and Territories.

The timing is uncertain as the new provisions will only come into effect once the Duties Amendment (Landholder and Corporate Reconstruction and Consolidation) Bill 2016 receives royal assent.

The most significant change is moving away from the 60 percent land to property ratio for determining whether duty will be triggered.